Bolstering European Energy Security

As Europe grapples to climb out of the most significant economic crisis in generations, it has been difficult to identify areas where Europe will maintain a competitive edge over other regions in the decades to come. Energy security is frequently listed amongst the problems Europe faces today, and projections suggest that these problems will be exacerbated in the future. Europe’s inclination for the past half century has been to address common problems from a central, integrated perspective as a European Union, but when it comes to cooperation on energy policy, national leaders and industries have resisted centralization and even collaboration, instead opting to fend for themselves and prioritize national over regional solutions. The result is a less competitive European continent vulnerable to energy disruptions and struggling to meet its own climate policy goals.

That said, an often-overlooked, well-functioning model for cooperation, diversification, and security of supply stands out amidst the challenging scenarios. Nordic countries have connected, integrated, and opened their energy markets to each other, achieving a significant level of energy security and diversification in the process, while allowing for substantial amounts of renewable energy to be leveraged in a highly efficient way. The Nordic model represents a best practice solution for other regions, and is worth exporting and duplicating.